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Welcome back, so glad you’re here with us today for another edition of The Live Show.First off, let’s talk about the Royals. What a terrible showing. I felt bad for our boys but they didn’t play well so they didn’t win. Hopefully they’ll play a little better tonight.In today’s episode, we have a lot of stuff in the stack today. We’ve got a lot of Detroit news that I want to talk about. We also have some stuff about the Mexican drug cartels and all this talk about ISIS.I’ve been saying this but ISIS is not really a threat. It’s not a threat to you or me. It’s a problem for you if you live in the region but it’s just not a problem for us.And there’s an article from American Al Jazeera contrasting how bad ISIL is with how bad the drug cartels in Mexico are. They have some good numbers that they throw out here are actually pretty good so I’ll read a little bit about it despite the fact that it’s nothing more than an apology piece for ISIL, which we’ll get to a little later in the show. I want to begin by talking first about stocks.We saw a major rally. Now, I don’t like to pat myself on the back but sometimes when nobody is there to pat me on the back, I have to do it. And I told you guys that we were going to see a rally.If you take a look at the Dow Jones Industrial average, we’re trading at 16 6. Now, I put my money where my mouth was and I bought calls at 164 calls, the November calls. And so right now, I’m well into the money on those calls and I am looking for a move back up into around 16 8. That is the previous little dip level. I told you last time you have to respect the previous structural level looking at around 16 4. You can see that the market actually found a little bit of resistance.The market did respect that 16 4 level until yesterday and we now broke above it. So, the next level that we’re kind of watching is at 16 8. If we can get there, then that’s going to be the area where I’m going to look to off my calls and take my profits out of that because I think that’s probably where we’re going to potentially be seeing the selling.I didn’t know if this was going to be a 3 day rally or a 7 day rally but it looks like we’re already 3 days into the rally. We could have a down day today but if we can get up there, if we can get a 200 pip rally over the next couple of days, I’ll end up taking that position off for a very nice profit.-----If you would like to discuss anything with John about the show, email him at Jason@TheLiveShow.TVYou can also use the hashtag #TheLiveShowFollow Jason on Twitter: www.Twitter.com/TheLiveShowTVFollow Us on Facebook: www.Facebook.com/TheLiveShowTV-----If you are really enjoying the show and would like to support what we're doing at The Live Show, please consider donating to our cause. You can do that at www.Patreon.com/TheLiveShow-----Are you interested in advertising on The Live Show?Reach out to us at Advertising@TheLiveShow.TVWe’d love to talk with you.-----SponsorsTrade Pro Futures: http://tradeprofutures.com/The industry's top futures and forex trading platforms.Trade Empowered: http://www.tradeempowered.com/Learn how to day-trade, swing-trade, or become a profitable long term trader.Main Street Alpha: http://mainstreetalpha.com/A social site that links up professional successful traders with verifiable track records to capital.-----The U.N. just made a recent visit to Detroit.For those of you who don’t know, Detroit has looked like a war zone, a war torn country. They have lost something like 50% of their population. There are massive amounts of poverty and huge losses of business and commerce. Because Detroit was built around the auto industry, when the auto industry saw a decline, Detroit likewise saw a decline. The unions have lost their grip on that economy. And companies are just simply moving out, moving their plants to other countries, other parts of the United States, where it’s less expensive for them to operate.One of their major problems is Detroit is now bankrupt, they’re beyond bankrupt. They cannot pay their bills, they cannot do anything that they’re suppose to do. Keep in mind, liberals and progressives have been running the state of Michigan and, more specifically, the city of Detroit, since the Industrial Revolution. And like most progressives, they’ve managed to run it into the ground.The reason that it happens is that they make promises that they cannot possibly fulfill on. They consider things that are really no more than conveniences or excesses as human rights, as rights. It’s a right that you have a certain amount of money. It’s a right that you receive a certain amount of pay. It’s a right that you have healthcare or that you have a place to live. And when you start making these rights, you have to fulfill on that. And when you start making promises that you are going to pay someone a certain wage and you’re going to give them certain insurances, certain pensions, eventually, when times are good there is no problem but when times start to turn down, there is no way for you to possibly pay for those things.This is where entitlement comes from.Detroit officials bristle at UN visit, scolding over water shut-offshttp://www.foxnews.com/politics/2014/10/21/detroit-disappointed-in-uns-non-fact-finding-visits-about-water-shut-offs/Detroit officials are fuming after two visiting United Nations lawyers scolded the city for cutting off water to delinquent customers and described the shut-offs as a “human rights” violation.The response follows a three-day visit to Detroit -- which desperately is trying to bail itself out of bankruptcy -- from two representatives with the U.N. Office of the High Commissioner for Human Rights.Detroit officials have defended the decision, arguing that customers collectively owed more than $115 million in delinquent water-and-sewer department payments before the city took action and that their efforts are improving the situation.They have done just an absolutely atrocious job of managing virtually every aspect of that city. Things have gotten so bad, they have gotten so bankrupt, that they are resorting to actually doing some things that they should have done, really, a long time ago. One of which is shutting off the water to people who do not pay their water bills.What we have here is a grossly mismanaged city by a group of progressives who think they know better how to run everything.Here’s the thing: You just can’t not pay for a service that’s not a human right.It doesn’t work like that. Water being delivered to your house is not a human right. It’s a privilege. It’s a benefit. It’s a luxury.Now I know many of you in America might not think of indoor plumbing as a luxury or a common convenience but it is. There are lots of people around the world who would love to not have to go out and pump water from a well and bring it to their home.Snyder signs bill banning direct auto saleshttp://www.detroitnews.com/story/business/autos/2014/10/21/snyder-tesla-direct-sales/17663891/Gov. Rick Snyder on Tuesday signed a bill banning automakers from selling vehicles directly to customers in Michigan.The new law closes a loophole that California-based Tesla Motors Inc. has used in other states to maintain company-owned retail stores, bypassing the dealership route.It’s because of policies like this that they are bankrupt. With absolute power, there is a lot of corruption. Anytime you give government authority, you risk government corruption.The law says that you cannot sell a vehicle direct to a consumer if you’re auto maker. You must sell through authorized franchises.Now, why would they do that? Is that in the best interest of the consumer?Absolutely not. You’re creating a middle man. You’re creating price hikes. You’re creating a barrier between the person who creates the products to selling to the person who wants to buy it.It doesn’t benefit the consumer at all. And doesn’t benefit the auto company either because now they cannot be competitive.Fed likely to end bond buying, may signal caution on rate hikeshttp://www.reuters.com/article/2014/10/16/us-usa-fed-idUSKCN0I529T20141016The Federal Reserve is likely to reassure investors later this month that it won't stand idle if global turbulence threatens the U.S. economy, but a proposal from one top policymaker to keep on buying bonds looks to be a bridge too far.Mexican drug cartels are worse than ISILhttp://america.aljazeera.com/opinions/2014/10/isil-vs-mexican-drugcartelsunitedstatesislamophobia.htmlThe horrific rampage of the Islamic State of Iraq and the Levant (ISIL) has captured the world’s attention. Many Western commentators have characterized ISIL’s crimes as unique, no longer practiced anywhere else in the civilized world. They argue that the group’s barbarism is intrinsically Islamic, a product of the aggressive and archaic worldview that dominates the Muslim world. The ignorance of these claims is stunning.While there are other organized groups whose depravity and threat to the United States far surpasses that of ISIL, none has engendered the same kind of collective indignation and hysteria. This raises a question: Are Americans primarily concerned with ISIL’s atrocities or with the fact that Muslims are committing these crimes?For example, even as the U.S. media and policymakers radically inflate ISIL’s threat to the Middle East and United States, most Americans appear to be unaware of the scale of the atrocities committed by Mexican drug cartels and the threat they pose to the United States.A recent United Nations report estimated nearly 9,000 civilians have been killed and 17,386 wounded in Iraq in 2014, more than half since ISIL fighters seized large parts on northern Iraq in June. It is likely that the group is responsible another several thousand deaths in Syria. To be sure, these numbers are staggering. But in 2013 drug cartels murdered more than 16,000 people in Mexico alone, and another 60,000 from 2006 to 2012 — a rate of more than one killing every half hour for the last seven years. What is worse, these are estimates from the Mexican government, which is known to deflate the actual death toll by about 50 percent.Statistics alone do not convey the depravity and threat of the cartels. They carry out hundreds of beheadings every year. In addition to decapitations, the cartels are known to dismember and otherwise mutilate the corpses of their victims — displaying piles of bodies prominently in towns to terrorize the public into compliance. They routinely target women and children to further intimidate communities. Like ISIL, the cartels use social media to post graphic images of their atrocious crimes.Support the show.